£12 million to support innovations that help people as they age

Older people walking on beach

More than £12 million of government funding is available to fund the best innovations to help us stay independent, active and productive in our later lives.

The funding is available to:

  • commercial investors
  • social impact investors
  • charities who can provide equity investment.

The £12 million will fund smaller businesses developing products, solutions and services, which address one or more of the seven themes of healthy ageing.

A total of £29 million in government grants, with aligned funding from private investors, will be available over the next four years for individual projects up to £2 million.

Healthy ageing challenge

The healthy ageing challenge is supporting the UK government’s ageing society grand challenge to ensure people can enjoy at least five healthier, more independent years of life by 2035, while narrowing the gap between the experiences of the richest and poorest.

£13 million of grant funding has already been allocated, alongside private equity from existing partners from the first competition, including:

  • Legal & General
  • Barclays Ventures
  • Northstar Ventures.

UK Research and Innovation is looking for further investor partners to work with on this initiative.

Further information

Interested investors can contact helen.crampin@innovateuk.ukri.org.

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